⭐ Merited by mindrust (5)
And how many people can get an ASIC to become miners?
How many people can get gpus AND are willing to invest in them? AMD and nvidia inspires a hell of a lot more trust than Bitmain.
Can you say the next sentence with a straight face? BITMAIN IS A FIGHTER FOR DECENTRALIZATION.
Also for the main reason, immagine how much we can stick it to metroid
We all dont want something like decentralization, I dont own any asic miner as well but Bitmain is too big now, and they have too much money to not only destroy another asics manufacturers also our small GPU miners, to monopolize the market. So we hope now some actions like Monero team who may launch a radical means of combating ASIC-miners through the update of CryptoNight algorithm. But that's all about the efforts of development team, this's quite exciting times, I think Ethereum team also are watching on what happens to Monero. I believe that it would be best practice would be to fork like Sir Phil said.
A few things to note:
1) Bitmain became wealthy because folks bought from them in large scale. Mcafee, genesis mining etc large corporate mining businesses that a centralised hubs for mining now.
2) i say let the btc value go back to zero so these large mining businesses shutdown as running costs get too high (electricity, labor costs etc)
3) devs keep modifying their coins to keep them decentralised (sia tried but failed; monero is trying to beat asics and eth is undecided). Only fork when asic video is launched by manufacturer.
4) just need to figure out how many forks will it take to discourage these asic manufacturers to stop making these new asics (capital losses in millions) to bankrupt them.
5) dont forget why bitcoin came into existence in the first place. It was to move away from corporate suits trying to fabricate regulations only to break it themselves and ending up causing the markets to crash by 6 trillion dollars. Bitmain is turning into another central bank controlled by Jihan and it seems we have created a centralised entity.How is crytpo better than the current banking system if its lost its initial vision and only a few key players hold a majority of the coins/hashing power.....